SEVERN AU4SHOUSES TRusr {REGISTERED CHARtrY NO: 218540) FINANCIAL sfATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2025
SEVERN ALMSHOUSES TRusr FINANCIAL STATEMENTS FOR THE YEAR ENDED 31ST DECEMBER 2025 CONTEKrs Page Tnjstees, Report ststement of Tnjstees. Responslbilittes Accountants, Rewrt Balan Sheet Notes to the Financial Ststements 8-11 Income and Expendittjre Account 12
SEVERN ALMSHOUSES TRusr TRusfEES' REPORT YEAR ENDED 31ST DECEMBER 2025 The Sevem AImsU5eS Trust is a tharity and is registered with the Chaiity Commlsslon (Charity no. 218540). The original four properties were built in 1927, on land formety owned by the Buttedey Company rnited and purchased by Frankjin Sevem. The Trust Deed prOded for the four properb&s to be let to.Or people in the District of Codnrf. In 1980, four rther properbes were built at the rear of the origlnal buildings. Tte Trust is a s(Ktal larKllord registere(I wtth the Regulator of Social HOung. The Charlty Is administered by a Board of TnLStees, who gtve their time voluntsrily. They normally meet three tim per year to ensure that the Trust s managed in an effective manner. The current Trustees are: Mr Chris Emrnas-williams Mrs Jane Brtdges Mrs Jill Sharp Mr Mick Neale Mrs Eileen Hamilton - Councillor (Amber Valley Eorough Counal & Codnor Parish) - Codnor Methc*Jist Church - Church of England (St. James, Qosshill) - C(Klnor Parish Counal - Councillor (Heanor & Loscoe Town Council) The day to day administration of the Trust is carried out by aerktrreasurer - Chrfs Slaymaker. Objectives and Acttvltles The drity maintains 8 tKopertie5 which provfde hOUng for residents of Codnor who are aged 60 or over and who are in housing need. Two properties have become available during the year and, following wort( to update the properties, two new residents have bn welcomed to the Ajmshouses. The residents receive regular wsits from the Trustees Induding delivering Christrnas gifts. During the year ended 31st Dember 2025 improvementslrepalrs to the propaties have included: All boilers have been Servi and Safety Certificates provided Redecoration of two propertles Installation of walk4n shower Roof repairs Ceiling repair Upgrading of outdoor lighting New tarmac pathways around all properties
SEVERN ALMSHOUSES TRusr TRUSTEES. REPORT - continued YEAR ENDED 31sr DECEMBER 2025 The Trust Is financially sound and repairs to the prOpWti are carried out promptly. The aedrffreasurer prepares a rnUal Statement for eath Trustees, Meeting. The Quinquennial Re¢ publtshed in 2022, has conifnued to inforn the Trustees regarding ongoing rna1ntenan of the properties. Trustees have appVed an ukKIat Complaints Policy vthich has been distributed to all residents. Future expendltu The Trustees have disomd: Installation of solar pandling Replacing the current b)iler5 wilh ground source heat pumps The refurbishment of any propty as and Wh Me i)meS vacant Provision of Christsmas lighting to the ]tsIde of the proFerbes Commission a survey of the condttion of roofing to all propertles To the best of the Trusteeg knowledge, all statutory and legal rEquirements of Sevem Almshouses Trust have been fulfilled. By order of the Board of Trustees Mick Neale Chalr of Trustees
SEVERN ALMSHOUSES TRusr srATEMENT OF TRusfEES' RESPONSIBILrrxES Homes England and Charity leglslatfon requlre the Trustees to wepare Flnancial Ststements for each finanaal year whlch give a tNe and falr vlew of state of affairs of the Prtvate Registered Promder of Soaal Houslng and of the SuuS or deficit for that pw1od. In preparlng these flnandal Statements, the Trustees are requlred to: Select suitsble accounting pollaes and then apply them con5iStently; Make Judgements and estlmates that are reasonable and prudent; State whether appllcable accountlng standards have been followed, subject to any rnaterlal depariures dlsclosed and explalrEd In the financlal stateMts. and Prepare the flnancial siatements on the going corttm basls unless it is inappropriate to presume that the Private Register Provider of gxlal Housing will continue in business. The Trustees are reSp(Yfjlb for kp1j prw accounting records which disdose wlth reaSonae accuracy at ary bme the finarK?al tN)sition of the Prlvate Registered Provlder of Social Houslng and enable it to emsure that the flnarmial statements comply wlih the provisions withln the Housing and Regeneration Aci 2(M18 and the Accounting Direction Private Registrred Providers of Social Housing 2019. They have general restK)nsibility for tsknr reasonable steps to safeguard the assets of the fvivate Reglstered Pmvlts of la1 Housing and to prevent and detect ftaud and other Irregukirtu
ACCOUNTANT'S REPORT TO THE IRusfEES ON THE UNAUDrrED ACCOUNTS OF SEVERN ALMSHOUSES TRUST We rewrt on the accounts for the year ended 3tst DecemLr 2025 set out on pages 6 to 12. Respective respOnbIlitieS of the Tntstees and reptIng acmuntant The Trustees of the Prlvate Registered Provits of al Housing are resp)nsible ft)r the preparation of the accounts, and they c(sIder that the Private Registered Provider of Sodal Housing15 exempt from an audit Itls our re5porsibillty to carry wt procedures designed to enable us to report our opinion. Basis of Opinion Our work was conducted in accordan ryth the Statement of Standards for Rewrtlng Accountsnts and so our procedures cOrlSted of comparing the accounts wlth the accounting records kept by the Private Registered Provider of Soclal Housing and rnang such Ilmited enquiries of the Trust of the Prfvate Registered Provider of Sbcial Houslng as we considered necessary for the puryx) of this repoL These procedures wovide the only assuratKe expressed in our oplnlon. Oplnlon In our opinion: the Income and Expendthre Aco)unt and Balan Sheet for year ended 31st Dember 2025 are in accordan the accounting reo)rds kept by the Private Registered Provlder of &)dal Houslng under section 135(2)(a) of H(xJslng and Regeneration Act 2008; On the basls of the infrjrniation contalned In the accounting records: The IncorrE and Expenditure Account and Balan Sheet comply the requirements of the Charitles Att 2011. The Prwate Registered Provlder of Social Housing has satisfied the conditions for exemptlon from an audit of the accounts for the year ended 31st Dember 2025 as specified in secbon 136(3) of the Housing and Regeneratlon Art 2008;
ACCOUNTANfs REPORT TO THE TRusfEES ON THE UNAUDrrED Accoupifs OF SEVERN AL14SHOUSES TRusr Continued... Oplnlon (continued) The accounts comply wlth the requirements of the Houslng and RegenetIOn ALt 2008 and the Accountlng tirectlon for Prlvate RJStered Promders of Soaal Houslng 2019. Mabe Allen LLP Chartered ACCn(3nts Croft House 3 Derby Road Ripley Derbyshire DE5 3EA (o ( Date
SEVERN ALMSHOUSES TRusr BALANCE SHEEf AT 31sr DECEMBER 2025 2024 18,211 Freehold Housing, L7nd arKI Bulldings (8) 18,211 347,909 M & G Investments 367,728 385,939 CURRErir ASSErs 1,324 PayTrEnts in advan 986 10,924 Cash at Bank 13.189 Credltors: AMnts falling due within one year: {1154) Accnkils (1280) Other ¢Jedltors (220) 2154 10,094 NEf CURRErir ASSErs 11ffi75 376 214 TOTAL ASSEfs LESS CURREltr UABILrrIES CAprrAL AND RESERVES 329,122 t*slgnated Reserves (9) 344,881 47,092 Income and Expendlture Account 52,733
SEVERII ALMSHOUSES TRusr BALANCE SHEET AT 315r DECEMBER 2025 C0nnUed... The Trustees are satisfied that the Charfty was entiued to exemption under sectlon 136(3) of the Housing and Regenerauon Att 21X)8 and that nether the Trust nor the Homes & Cornmunities Agency have required an audlt In accordan with the ACL Ihe Tntstees acknoKrfedge their reSnSIbIlitieS ft)r: ensuriThJ that the Charity keeps accountlng recorts in accordan wlth Sodal Housing and Charity legislation. and preparing aCCnts whlch glve a t and fair VIe of the slate of afFdirs of the Prlvate Registere{] Provider of &xial Hng as at the end of the 11nandal year and of its surplus or deficit for the finanaal year In accordan with the requirements of thls Act relating to accounts, 50 far as appilcable to the PrNate Regi%tered Provlder. The flnanclal statements have been prepared in aCOxdan wlth the requirements of 5ectson 135 of the HOung and Regeneration Act 2CMJ8 and the Accounting Dirertlon for Prlvate Registered Prowders of ScMJal Housing 2019. These finanaal statements were apwoved and authorised for issue by the Tru51ees On behalf of the Board of Trustees Mick Neale Chris Emmas-williams
SEVERN ALMSHOUSES TRusr NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 31ST DECEMBER 2025 i) PIUNCIPAL AccoufiTING pouaES The Finanaal Statements have been prepared in accordance wlth applicable Accounting Standards in the United Kingdom induding the Ststement of Recommended Practice. The accountlng pdiaes of the charity are set out below: Bass of The Financial Ststements are prepared on the histoiical cost basis of accounting. Tur Represents social housirKJ income receivable from tenarts. Housin rtles All assets are Initially recorded at C05L Other rants received GtBnts received relating to enue expendTbJre are credlted to the Income & Expenditure Account in the year when such monies are received. Grants received relating to captsl items are credited to the Balance Sheet in the year of receipt against the applicable asseL dical Re airs and Maint The Charity ha5 establlshed a regular prO9mMe of cyclical repairs and maintenance. Costs are charged to the Income & Expenditure Account in the year in which they are incurred. ordina airs Costs of Extraordinary Repairs, Unl representing improvements to the properties, are charged to the Income & Expenditure Account in the year in which they are incurred. C clical Re airs and Maintenantr Reserve This reserve represents amounts set aside for cydi&il MaIntenan costs in excess of budgeted exlture for any year. orRe airs Re5eNe This Revenue Reserve represents amouiits set asde to cary wt major repalrs on the charitys social h(Kssng properties. Charitable Fund Pr ReseNe This represents that proportion of the cost of properties whlch was finand by charitable donations and the tharitys own resources. The charitsble Fund Property ReseNe also indudos depreciation equal to loan repayments provid In previou5 years. Value Added Ta The Charity is not registered for Value Added Tax. In these Financlal Statements, where applicable. expenditure is shown inclUe of VAT. Fixed Investments Investsnents have been valued at maFket prices at 31st December 2025. Account is taken of unrealised gains atKI losses in the Income and Expenditure Account. Investment Income Invesbnent income is recognised when th income is recelved. b) d) g) h) i) k)
SEVERN ALMSHOUSES TRusr NOTES TO THE FINANCIAL STATEMEKrs FOR THE YEAR ENDED 315r DECEMBER 2025 2. SOCXAL HOUSING OPERATING cosrs 2024 Notes 2025 Housin AccommcKJation Services ement Routine maintenan 8 Units 776 3. SERVICES 2024 Notes 2025 1,762 476 Rates & water Light & heat 1,622 4. MANAGEMENT Notes 2025 Treasurerfs Honorariutn Insuran Accounta Subscri tions & similar f*$ Sund nses Bank a 997 280 970 273 60 414 35 5. RoiifINE MAINTENANCE 2024 Notes 2025 clical re Ma Garden u airs
SEVERN ALMSHOUSES TRUST NOTES TO THE FINANCIAL sfATEMEKrs FOR THE YEAR ENDED 31ST DECEMBER 2025 6. INTEREST RECEIVED AND SIMILAR INCOME 2024 Notes 18 13,227 14 Bank Deposit Account M & G Accumulation Accourt M & G Income Account 13,915 7. TAXATION The Sevem Almshouses Tst is a Reglstered Charity and is therefore exempt from Ilabllity to taxation on its Income and capttsl gains. 8. FREEHOLD SOCIAL HOUSING LAND AND BUILDINGS At Cost: 8 Houses, Nottingham Road, CLxdnor. Ilpley, Derbyshire 9. DESIGNATED RESERVES Totsl Cydical Repalrs & Maintenance Reserve 3h97 Major Repairs Balan l Jan 2025 Trnnsfer from Income & Expenditure Account Transfer to Inc(Mne & Expenditu Account Balan 31.12.2025 329.122 325.625 53,290 53,290 (37,531) (37,531) io. ACCOMMODATION IN MANAGEMEMr The number of units of social hong accommodatron managed by the Charity as at 31st December 2025 amounted to eight (2024: ewJht). 11. MATERIAL INTEREsf OF TRusfEES There were no contracts durirKJ, or at the year end, in vthich a Trustee was, or Is, materially interested {2024: none). io
SEVERN ALMSHOUSES TRUST NOTES TO THE FINANCIAL sfATEMEKrs FOR THE YEAR ENDED 31sr DECEMBER 2025 Opernting Notes INCOME AND EXPENDrnIRE FROM LErrINGS Social housing lettings (Ib) 21,945 (2) {53,835) OThER INCOME AND EXPENDITURE Interest received and similar income (6) DEFIcrr BEFORE TAXATION (17,975) Taxation (7) Gain on fixed asset inveStmets sold 1,475 Unrealised gain on investrnent 37,9(M) TOTAL SURPLUS AFfER TAXATION FOR THE PERIOD OF ACCOUNT MOVEMEKf ON RESERVES Income & Expenditure Account Balance brought ford 1st January 2025 47,092 Surplus for the year 21,400 Transfers (to) I from Cydical Repairs & maintenan Reserve (9) Transfer to Mai)r Repair5 Reserve (9) (53,290) Transfer from Major Repairs R&serve (9) 37,531 li
SEVERN ALMSHOUSES TRusr INCOME AND EXPENDrnIRE AccouKr FOR THE YEAR ENDED 31sr DECEMBER 2025 31.12.2025 31.12.2024 INCOME Gross rents received Investment income 21.945 13.915 22,880 13,259 35,860 36,139 GAIN ON DISPOSAL OF M &G UNrrs 1,475 37,335 36,168 EXPENDMIRE Rates and water Property InsurarKe Heat & Ilght Cyclical repairs Major repairs Garden upkeep Sundry expenses Treasurer's honorarium Accountancy Subsaiption Bank charges 1,622 997 321 5,427 37,531 1608 414 1.500 1280 I,ioo 35 1,762 1,050 476 9,501 3,330 273 1,000 3,354 970 60 53,835 21,776 EXCESS OF EXPENDrnIRE OVER INCOM UNDER TRUSTEES CONTROL (16,500) 14,392 UNREAUSED GAINS ON M & G INVESfMEpirs 37,900 12,603 TOTAL SURPLUS FOR THE YEAR 21 12